VANCOUVER, British Columbia, Dec. 18, 2023 (GLOBE NEWSWIRE) — NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to provide an update on its current drillhole (CL23-10-01) at its California Lake VMS Project.
- Drillhole is currently at a depth of 615 meters targeting Lens A at depth.
- The Azimuth and dip are monitored daily, the Azimuth presently at 209 degrees and the Dip flattened to 65 degrees. Our calculations show we are on target.
- Rocks intersected to date include felsic volcanics of the Flat Landing Brook Formation which hosts numerous VMS mines and occurrences in the southern portion of the BMC including Stratmat and Headway.
- Between 490.10 and 496.15 there was a distinct, banded sulphide zone with 5- 8% pyrite and blebs of chalcopyrite. This section has been cut and will be submitted to ALS Global for analysis.
- Mixed felsic rocks of the Flat Landing Brook Formation continued to 557 meters where a distinct break occurred, the drill hole intersecting the upper boundary of a Tectonic Zone characterized by white quartz and pink – orange K-Spar veining.
- Pyrite and chalcopyrite (Cu) mineralization is locally present in the quartz – K-Spar veins associated with the Tectonic Zone.
FIGURE 1: (CL23-10-01) , Chalcopyrite (Cu) associated with Quartz – K-Spar veining.
FIGURE 2: (CL-23-10-01) Sulphide banding / bedding, 490.10- 496.15m.
Figure 3 : (CL23-10-01) Tectonic Zone with White Quartz, Orange K-Spar
Nine Mile Metals VP Exploration and Director, Gary Lohman, B.Sc., P.Geo., stated that, “The drill hole is on target as we continue to drill through the Flat Landing Brook felsic volcanics / Tectonic Zone. The banded sulphide zone with visible chalcopyrite was a pleasant surprise, indicating copper in the system. The section has been cut for analysis in addition to other areas where intense silicification and pyrite dominate the drill core.”
Kevin B. Hicks, Director stated, “We continue to monitor the dip and azimuth readings as the drilling progresses towards our target depth. The hole was very straight in the upper sections therefore we can accommodate some build rate in the dip and still hit our predetermined target radius at depth.”
Still above target depth, the geological sequences encountered in drill hole CL-23-10-01 are characteristic of the Flat Landing Brook felsic volcanics. Local intense hydrothermal alteration, high temperature mineralogy and sulphide banding confirm the potential of the California Lake VMS West trend. Additional drilling is planned along this prospective trend where EarthEx defined numerous untested, late time EM conductors, characteristic of VMS mineralization, along strike of known Cu, Pb and Zn occurrences.
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and the Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
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ON BEHALF OF NINE MILE METALS LTD.
“Patrick J Cruickshank, MBA”
CEO and Director
T: +1.506-804-6117
E: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the section 490.10 and 496.15 metres has been cut and will be submitted to ALS Global for analysis, (b) local intense hydrothermal alteration, high temperature mineralogy and sulphide banding confirm the potential of the California Lake VMS West trend, (c) additional drilling is planned along this prospective trend, (d) the drill hole is on target as we continue to drill through the Flat Landing Brook felsic volcanics / Tectonic Zone, and (e) we continue to monitor the dip and azimuth readings as the drilling progresses towards our target depth. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/dbc3151a-1f1e-43b6-b72f-85867182227a
https://www.globenewswire.com/NewsRoom/AttachmentNg/88569758-190f-43ab-b711-42c2b41bce78
https://www.globenewswire.com/NewsRoom/AttachmentNg/20218dd8-281e-4176-9162-1919190907e6
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